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[Banjax]

http://news.bbc.co.uk/1/hi/uk/8296096.stm

it does make you think why isn't this at the top of the agenda?
is it too big a problem?
or is it nothing to worry about?

[Lizzie_Zoom]

Well all I know BJ is that when I was at school back in the 1960s we were told oil would run out by the end of the 1990s!!

In addition I keep reading reports that "huge" new oil fields have been located, and I understand one is in northern Iraq where oil is literally bubbling up and laying on the surface! 8-) 8-) 8-) 8-)

So who do we believe! 

Maybe I am cynical in nature, and part of my business acumen knows that the best way to support higher prices for your product is to ensure that there is a continual shortage of it and no one else in the market place can get hold of it easily!   I think this knowing the oil industry has many parts but they do operate as one big cartel!!

[Entwood]

http://news.bbc.co.uk/1/hi/uk/8296096.stm

it does make you think why isn't this at the top of the agenda?
is it too big a problem?
or is it nothing to worry about?

Another excuse to put prices up

No country ever actually admits what it's total oil reserves are for strategic reasons, and anyway that figure would change continually as both technology changes and so do economics.

Oil is, and will remain .. a political and economic weapon

Some fields that were considered un-economic are now being used as technology has made extraction cheaper, and price rises have made it worth while.

The same will happen in the future to both existing and new fields.

[Dishevelled Den]

http://news.bbc.co.uk/1/hi/uk/8296096.stm

it does make you think why isn't this at the top of the agenda?
is it too big a problem?
or is it nothing to worry about?

Another excuse to put prices up

No country ever actually admits what it's total oil reserves are for strategic reasons, and anyway that figure would change continually as both technology changes and so do economics.

Oil is, and will remain .. a political and economic weapon

Some fields that were considered un-economic are now being used as technology has made extraction cheaper, and price rises have made it worth while.

The same will happen in the future to both existing and new fields.

.... and that weapon will be trained on international market with even greater accuracy from this point forward

It does seem reasonable to believe however that the age of cheap oil has passed.

[Banjax]

Well all I know BJ is that when I was at school back in the 1960s we were told oil would run out by the end of the 1990s!!

In addition I keep reading reports that "huge" new oil fields have been located, and I understand one is in northern Iraq where oil is literally bubbling up and laying on the surface! 8-) 8-) 8-) 8-)

So who do we believe! 

Maybe I am cynical in nature, and part of my business acumen knows that the best way to support higher prices for your product is to ensure that there is a continual shortage of it and no one else in the market place can get hold of it easily!   I think this knowing the oil industry has many parts but they do operate as one big cartel!!

i did  quick calculation on the back of a fag packet when Shell(was it?) discovered that massive new oil field - i remember it worked out that new oil field would last something like 40 days!! we need a massive find every month or loads of smaller ones 

its difficult to get a true picture of reserves but one thing is certain - they're not making anymore so it will run out eventually - maybe 5yrs or 500  :-?

[waspy]

Well all I know BJ is that when I was at school back in the 1960s we were told oil would run out by the end of the 1990s!!

In addition I keep reading reports that "huge" new oil fields have been located, and I understand one is in northern Iraq where oil is literally bubbling up and laying on the surface! 8-) 8-) 8-) 8-)

So who do we believe! 

Maybe I am cynical in nature, and part of my business acumen knows that the best way to support higher prices for your product is to ensure that there is a continual shortage of it and no one else in the market place can get hold of it easily!   I think this knowing the oil industry has many parts but they do operate as one big cartel!!

i did  quick calculation on the back of a fag packet when Shell(was it?) discovered that massive new oil field - i remember it worked out that new oil field would last something like 40 days!! we need a massive find every month or loads of smaller ones 

its difficult to get a true picture of reserves but one thing is certain - they're not making anymore so it will run out eventually - maybe 5yrs or 500  :-?

We'll have to change the OOF to HOF (Horse Owners Forum).

Personally i'll believe all the RUMOURS when it actually comes true.

[Banjax]

Well all I know BJ is that when I was at school back in the 1960s we were told oil would run out by the end of the 1990s!!

In addition I keep reading reports that "huge" new oil fields have been located, and I understand one is in northern Iraq where oil is literally bubbling up and laying on the surface! 8-) 8-) 8-) 8-)

So who do we believe! 

Maybe I am cynical in nature, and part of my business acumen knows that the best way to support higher prices for your product is to ensure that there is a continual shortage of it and no one else in the market place can get hold of it easily!   I think this knowing the oil industry has many parts but they do operate as one big cartel!!

i did  quick calculation on the back of a fag packet when Shell(was it?) discovered that massive new oil field - i remember it worked out that new oil field would last something like 40 days!! we need a massive find every month or loads of smaller ones 

its difficult to get a true picture of reserves but one thing is certain - they're not making anymore so it will run out eventually - maybe 5yrs or 500  :-?

We'll have to change the OOF to HOF (Horse Owners Forum).

Personally i'll believe all the RUMOURS when it actually comes true.

imagine the state of the streets if horses replaced cars overnight 

[Gaffers]

Did someone say wolf........?

[Field Marshal Dr. Opti]

Well all I know BJ is that when I was at school back in the 1960s we were told oil would run out by the end of the 1990s!!

In addition I keep reading reports that "huge" new oil fields have been located, and I understand one is in northern Iraq where oil is literally bubbling up and laying on the surface! 8-) 8-) 8-) 8-)

So who do we believe! 

Maybe I am cynical in nature, and part of my business acumen knows that the best way to support higher prices for your product is to ensure that there is a continual shortage of it and no one else in the market place can get hold of it easily!   I think this knowing the oil industry has many parts but they do operate as one big cartel!!

i did  quick calculation on the back of a fag packet when Shell(was it?) discovered that massive new oil field - i remember it worked out that new oil field would last something like 40 days!! we need a massive find every month or loads of smaller ones 

its difficult to get a true picture of reserves but one thing is certain - they're not making anymore so it will run out eventually - maybe 5yrs or 500  :-?

We'll have to change the OOF to HOF (Horse Owners Forum).

Personally i'll believe all the RUMOURS when it actually comes true.

imagine the state of the streets if horses replaced cars overnight 

Good news for the roses.

[Entwood]

http://www.youtube.com/watch?v=HcBh9IgMz5U

[Selseybill]

Well all I know BJ is that when I was at school back in the 1960s we were told oil would run out by the end of the 1990s!!

In addition I keep reading reports that "huge" new oil fields have been located, and I understand one is in northern Iraq where oil is literally bubbling up and laying on the surface! 8-) 8-) 8-) 8-)

So who do we believe! 

Maybe I am cynical in nature, and part of my business acumen knows that the best way to support higher prices for your product is to ensure that there is a continual shortage of it and no one else in the market place can get hold of it easily!   I think this knowing the oil industry has many parts but they do operate as one big cartel!!

i did  quick calculation on the back of a fag packet when Shell(was it?) discovered that massive new oil field - i remember it worked out that new oil field would last something like 40 days!! we need a massive find every month or loads of smaller ones 

its difficult to get a true picture of reserves but one thing is certain - they're not making anymore so it will run out eventually - maybe 5yrs or 500  :-?

We'll have to change the OOF to HOF (Horse Owners Forum).

Personally i'll believe all the RUMOURS when it actually comes true.

imagine the state of the streets if horses replaced cars overnight 

Find riding cows better,every now and then you get a turbo boost when it lets one rip plus you can run your heating on the gas the cow produces

[albitz]

I watched the "scientific expert" speaking about this on BBC breakfast this morning,he gave the distinct impression that he was talking 'dangle berries' and he knew it.He wasnt that convinced but someone had told him he had to convince the rest of us.
It has to run out at some point but how do we know when ? my opinion of scientists is that they constantly feel the need to come up with this stuff to justify their existence.